Investment.

St Albans.

3-11 Chequer Street, AL1 3YJ

Map View

Status.

Sold on 01/03/2020

Price.

£3,450,000

Location.

St Albans is an attractive and historic south east cathedral city located in Hertfordshire, 6 miles (10 km) east of Hemel Hempstead and 25 miles (40 km) north-west of Central London.The city is strategically located 4 miles (6 km) from the M1/M25 interchange providing fast access to the national motorway network and within easy reach of Central London, as well as both Luton and Heathrow airports.

Direct rail links are provided by the Thameslink service into London St Pancras with a journey time of approximately 20 minutes thereby underpinning the city’s reputation as an affluent commuter hub to London.

Description.

The subject property is a period building and an unbroken parade let to four tenants. The property occupies a very good secondary pitch with nearby tenants including Nandos, TSB, Toni & Guy, Fat Face, HSBC, Rymans and Joules.3-5 Chequer Street and 7 Chequer Street are let to D. Copperfield and William Hill respectively and are arranged over two levels, ground floor (sales area) and basement (ancillary accommodation).Hob Salons at 9 Chequer Street occupies ground, basement and first floors.

11 Chequer Street is let to Oxfam and it is arranged over ground, first and second floors. Both retailers trade from ground floor and use the rest of the space as ancillary accommodation.The subject property currently has 10 vacant flats in poor condition above 3-9 Chequer Street. Plans have been provided for a full refurbishment to convert the existing accommodation into 5 two bed flats and 2 one bed flats. 

Rent.

£177,750.00 per annum exclusive

Tenure.

Freehold

Yield.

6.5% NIY

Share.

All viewings are strictly by prior appointment.

David Freeman.

Partner | Investment

Patrick Over.

Associate Partner | Investment

Ed Smith.

Partner | Investment

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